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Market Recap – Earnings season

Monday, July 15, 2019 10:37 AM GMT

The US earnings seasons begins today with Citigroup. On Tuesday, it is the turn of JP Morgan, Wells Fargo, Fidelity, Goldman Sachs and Johnson & Johnson. On Wednesday, it's the turn of Alcoa, Bank of America and Netflix. On Thursday, it’s the turn of Microsoft and Morgan Stanley. On Friday, it’s the turn of Blackrock. Two weeks before the expected rate cut by the FED, US equities are rallying.

Today the EU foreign ministers are set to respond to Turkey’s drilling in Cypriot waters. The draft that will most probably be signed, calls for suspending negotiations on an aviation agreement with Ankara, halting scheduled ministerial meetings, reducing aid and inviting the European Investment Bank to review sovereign-backed lending to Turkey.

Macro releases: Today’s macro releases of the Chinese Economy included an impressive growth of the year on year retail sales and industrial production, and sent CNY, AUD, NZD higher and USD lower. The 2Q19 GDP growth figure released at 6.2%, the lowest point in the decade. No other important release is scheduled today.


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